Business News

Bank of America’s Monty Sayler and Merrill Lynch’s Ryan Kirby recently presented United Way of the Lower Eastern Shore Executive Director Kathleen Mommé with a $7,000 corporate gift from Bank of America for the 2010 United Way Campaign. Submitted Photo

Bank Earns 5-Star Rating

OCEAN CITY – The Bank of Ocean City has announced that it has again received the coveted 5 Star Rating from Bauer Financial, Inc.

Bauer Financial has been analyzing and reporting on the financial condition of the nation’s banking industry since 1983. Through the years, Bauer Financial has earned the reputation as "the nation’s bank rating service".

Bank of Ocean City has been servicing Ocean City and the surrounding area since 1916.

Association Elects Leaders

BERLIN – The Eastern Shore Building Industry Association has announced the election of its Executive Committee and Directors for 2011 at its recent December meeting.

SALISBURY – Delmarva Power this week asked the Maryland Public Service Commission to authorize an increase in electric delivery rates for the company’s nearly 200,000 Maryland customers.

If approved, the change would add 2.8 percent to monthly residential electric bills, effective July 21, 2011. The typical bill for a Standard Offer Service residential customer using 1,000 kilowatt-hours a month would increase by $3.76, moving the average monthly bill from $135.26 to $139.02.

The proposed $17.8 million increase reflects rising costs required to provide customers with safe and reliable electric service. Factors include upgrades to the electric system to improve reliability and support investment in new technology.

“We are seeking a relatively modest rate increase to help us keep pace with the demands for quality service and the cost of maintaining and improving our electric delivery system so that we can ensure the continued, reliable flow of electricity to our customers,” said Gary Stockbridge, President, Delmarva Power Region. “Investing in a safe, reliable and efficient electric system benefits the communities we serve.”

Delivery rates cover the cost of the poles and wires that carry electricity to customers’ homes and businesses and are separate from supply rates. Supply rates are driven primarily by the cost of fuel to make electricity and reflect the cost of energy that Delmarva Power purchases on behalf of its Maryland customers who do not buy power from an alternate supplier. Customers who buy from a competing supplier will see the same increase in their delivery rates.

Community Honored

BERLIN – GolfCourseHome® Network’s 3rd Annual "Best of the Best" rankings selected The Carl M. Freeman Companies’ Bayside as a Community of Distinction for 2010.

The selection is based on a summation of honors reflecting all major media rankings of golf courses and golf communities for the current year.

With over 500 homes settled, Bayside will have more than 1,600 homes when completed.

Featured Stories

OCEAN CITY — The fate of an iconic building on the east side of the Boardwalk is hanging in the balance this week with the heirs to the property preparing an appeal and the city claiming the site for the public good. Situated on the east side of the Boardwalk at South Division Street, the… Read more »

BERLIN – Plans for a bike path along the railroad tracks in Berlin are expected to move forward following approval of a design proposal. On Monday the Berlin Town Council approved a design and engineering proposal for the Berlin Bikeways Project from Davis, Bowen & Friedel (DBF). Dave Engelhart, the town’s planning director, said all… Read more »

OCEAN CITY – Surfers Healing returned to the beaches of Ocean City this week for a day-long surfing camp that gives children with autism and their families a sense of support and community. On Wednesday, 200 children with autism gathered in front of the Castle in the Sand Hotel where they were given the opportunity… Read more »

OCEAN CITY — An uptown Ocean City property with a tragic past will be redeveloped with a mixed-use commercial and residential project after resort planners this week approved the site plan for the long-awaited redevelopment. The Planning Commission on Tuesday approved a site plan for an addition to the UpTown Center along the west side… Read more »